Californian Lifeguard Salary…unbelievable!

I found the following excerpt on Greg Mankiw’s blog (http://gregmankiw.blogspot.com/) and as he suggests I’m sure it “might help explain some of California’s fiscal problems”. As a colleague said to me this afternoon, “I don’t even think the Bondi lifesavers get paid anywhere near this; even with their TV show!”…

According to a [Newport Beach] city report on lifeguard pay for the calendar year 2010, of the 14 full-time lifeguards, 13 collected more than $120,000 in total compensation; one lifeguard collected $98,160.65. More than half the lifeguards collected more than $150,000 for 2010 with the two highest-paid collecting $211,451 and $203,481 in total compensation respectively….Lifeguards are able to retire with 90 percent of their salary, after only 30 years of work at as early as the age of 50.